Planet Market Reports has added a report, titled, “Global Artificial Intelligence in Construction Market 2018 Forecast to 2025.”
Global Artificial Intelligence in Construction Market Size, Share, Trend, Growth | Planet Market Reports
Global Artificial Intelligence in Construction Market to reach USD XX billion by 2025.
Global Artificial Intelligence in Construction Market valued approximately USD XX billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The major driving factor of global artificial intelligence in construction market are growing demand across end user industries, technological advancements have encouraged the organizations especially construction and engineering sector and the increasing digital data. In addition, a rapid surge in the growth of the digital data has been witnessed owing to the growing adoption of Building Information Systems BIM , security sensors, drones, and machine telematics. This is encouraging construction companies to adopt advanced analytics solutions to take the full advantage of the huge amount of digital data and extract actionable insights. The major restraining factor of global artificial intelligence in construction market are unstructured construction environment and lack of skilled workforce. Moreover, adoption of the drones, robots, and autonomous vehicles in the construction sector is also backing the growth of the artificial intelligence in construction market.
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Artificial Intelligence in Construction Management is the core of artificial intelligence. With data collected at various cycles of the construction project across many different projects in construction firms, this provides valuable learning information for artificial intelligence applications. Artificial intelligence serves as a helpful tool for every phase of the construction project. The major key benefits of artificial intelligence are By using Construction Language Analysis, from tools such as Autodesk BIM 360 software, algorithms are able to understand complex data and predict potential problems, by using AI technology in the construction industry and scanning software, they can track the body movement of bricklayers to analyses their form in order to reduce the amount of injuries on-site and artificial intelligence in construction can be used to measure a project’s parameters which is then fed into a computer which understands the data and requirements of their physical location.
The regional analysis of Global Artificial Intelligence in Construction Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North-America has accounted the dominant share in the global Artificial Intelligence in Construction market due to high investments by construction companies. Additionally, Asia Pacific is also expected to register a considerable growth rate in the market over the forecasted period 2018-2025.
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China, Japan, South Korea, and India are the leading countries in this region. The market growth is due to increase in demand by the economies to develop smart city projects which require better amenities that boost the real estate sector.
The leading market player are:
• Alice Technologies
• Aurora Computer Services
• Coins Global
• Beyond Limits
• Renoworks Software
• Bentley Systems
The detailed segments and sub-segment of the market are explained below:
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By Stage of Construction:
Machine Learning & Deep Learning
Natural Language Processing
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Name: Jennifer Daniel
Organization: Planet Market Reports